A tool rack includes a base, two side boards and a frame. The base includes multiple blocks and is located between the two side boards. Each side board has an elongate slot and two ridges between which a space is defined. The elongate slot has a first recess defined in the top inner end thereof and the first recess is located higher than a top of one of the ridges. A second recess is defined in the bottom inner end of the elongate slot. The frame has multiple extensions and tools are positioned between the blocks and the extensions. Two side links extend from two ends of the frame. When the frame is mounted to the base, the side links are slidably engaged with the spaces of the side boards. The side links each have a pivot which is movably engaged with the elongate slot and each of the recesses.